REG - Workspace Grp PLC - Confirmation of Early Redemption of Retail Bonds

WorkspaceAnnouncement

10/09/2018 07:05

RNS Number : 1769A
Workspace Group PLC
10 September 2018
 


10 September 2018
 
WORKSPACE GROUP PLC
 
CONFIRMATION OF EARLY REDEMPTION OF RETAIL BONDS
 
Workspace Group PLC ('Workspace') confirms the redemption today of its £57.5m 6.00 per cent fixed rate bonds, ahead of their maturity in 2019. The redemption will be funded by drawing down on revolver facilities with a marginal interest cost of around 2%.
 
The bonds were originally issued on 9 October 2012 with a maturity date of 9 October 2019. The redemption price of the bonds was calculated at 11.00 a.m. on 6 September 2018 based on the benchmark gilt at that time, plus a 0.5% margin, in accordance with, and as described in further detail in the terms and conditions of the bonds. The aggregate redemption price of the bonds is £60,426,750, excluding any accrued interest, a premium of £2,926,750 over the aggregate issue price of the bonds.
 
Following the redemption, the listing of the bonds on the Official List of the Financial Conduct Authority and the admission of the bonds to trading on the Main Market of the London Stock Exchange plc will be cancelled on, or shortly after, 8 October 2018.
 
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For media and investor enquiries, please contact:
 
Workspace Group PLC                                                                      020 7138 3300
Graham Clemett
 
Edelman                                                                                              020 3047 2546
Rob Yates                                                                                          
 
 
Notes to Editors
 
About Workspace Group PLC:
 
Workspace is geared towards helping businesses perform at their very best. The Workspace Advantage is our unique customer offer and is open to all - we provide inspiring, flexible work spaces with super-fast technology in dynamic London locations.
 
Established in 1987, and listed on the London Stock Exchange since 1993, Workspace owns and manages 3.6 million sq. ft. of business space across 63 London properties. We are home to thousands of businesses including some of London's fastest growing and established brands across a wide range of sectors.
 
The way businesses work is changing. That's why we continually invest in providing the technology infrastructure that enables our customers to think and move fast, and alongside their working environment, is tailored to each individual business.
 
Workspace (WKP) is a FTSE 250 listed Real Estate Investment Trust and a member of the European Public Real Estate Association.
 
Workspace® is a registered trade mark of Workspace Group Plc, London, UK.
 
For more information on Workspace, please visit www.workspace.co.uk 
 




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